Nasdaq futures crash up to 2.5% as tech stock selloff deepens; Nvidia, AMD fall up to 7%

Earnings from Amazon.com Inc. and Intel Corp. triggered fresh concerns over capital expenditure by technology companies. S&P 500 futures were down 1 percent. Amazon shares fell 7.4 percent in US premarket trading, while Intel plunged 25 percent. Technology stocks also came under pressure after Alphabet Inc.'s shares recorded their biggest-ever single-day fall following its earnings announcement. In South Korea, Samsung Electronics shares declined after the company's earnings missed estimates and it delayed the release of its shareholder return plan.

Shares of companies linked to AI infrastructure also declined in premarket trading. Chipmaker Nvidia Corp. fell 2.8 percent, while Advanced Micro Devices Inc. (AMD) dropped 6.9 percent. Server and storage provider Super Micro Computer Inc. declined 5 percent, while power producer Bloom Energy Corp. fell 7 percent. Cloud computing firm CoreWeave Inc. was down 6 percent. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Shanghai's SSE Composite indices ended lower.

However, Hong Kong's Hang Seng index settled in positive territory. European markets were trading mostly lower. Back home, equity benchmark indices in India, Sensex and Nifty extended their gains for the second consecutive session, supported by strong buying in IT stocks and earnings-driven demand for Tata Group's retail arm Trent. The Sensex climbed 308.49 points, or 0.42 percent to settle at 74,459.53.

During the session, it surged 591.55 points, or 0.79 percent to hit 74,742.59. The Nifty advanced 116.35 points, or 0.51 percent to close at 23,053.10.